The former chairman of Wrekin Construction today spoke for the first time about the collapse of the company founded by his father nearly 50 years ago.

Dr Simon Frain said both he and Wrekin founder Tom Frain were “extremely sad” to see the demise of the Shifnal-based company.

Dr Frain, who left the Wrekin Group in October 2007 following the takeover by David Unwin’s Tamar Group, said the thoughts of the Frain family were with the 430 workers who had lost their jobs.

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He said: “It’s upsetting it’s ended up like this. My father’s very sad about it all. Our thoughts are with the people who lost their jobs.”

Dr Frain was appointed chairman of the group in March 2005, taking over from Stephen Hallett, and had previously served as chief executive. He is also a former chairman of the Civil Engineering Contractors Association.

“The Frain family has not had any involvement in the company for at least the last 18 months,” he said.

“It’s really disappointing. The thoughts of myself, my father and other members of the Frain family who were shareholders, feel very much for the people who have lost their jobs.”

Wrekin was put into administration last Tuesday, when the Royal Bank of Scotland called in the company’s £2.8 million overdraft.

Debt recovery manager Darren Davoile with insolvency lawyers Coltman Warner Cranston, confirmed he had presented the petition on behalf of a creditor for a “negligible” sum of money but that it was supported by more than 20 creditors owed £1.3 million between them.